Topic: Is bitcoin a better payment system? - page 22. (Read 2037 times)
of course bitcoin is a digital currency and a fast payment system in almost all countries let alone very low cost
It depends. To date it may not be a better payment system but once government policies step in and guidelines are framed it can surely become a better payment system.
In my opinion, yes, because for the reason that it is through technology and we have technologies everywhere. There's a little bit of hassle in paying with physical money and it is just getting out of date, we need something new system of paying and transacting. Having to pay with bitcoin is less hassle and fast transacting. But right now they're not accepting bitcoin because the rate of bitcoin is very high and still cannot be accepted as a payment.
The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).
It is certainly a good option in number of cases. For instance, suppose your PayPal gets limited or closed, bitcoins can be handy in such a situation.
Bitcoin is the best payment system? Of course not! With such a low transaction processing speed, this can not be.
bitcoin transactions usually occur for free if the amount exceeds 0.01 btc. if for transactions that pull coins from many bitcoin addresses so that it requires a larger portion of data then it will incur a very small transaction fee.
Bitcoin made a real success in the financial industry - in 2013 its price exceeded $ 1000, and despite a subsequent significant decline, in 2017 returned to the same mark. This week bitkoin updated new records and passed a mark of $ 1510. Bitcoin began to appear and other currencies - their number has already exceeded 200 and is constantly growing, but 85% of the world's total crypto currency is still bitcoin.
Crypto currency has a number of useful properties, which can be considered using the most popular of them, bitcoin. Here are the key positive differences bitcoin from the usual money that you see in your Internet bank.
Crypto currency has a number of useful properties, which can be considered using the most popular of them, bitcoin. Here are the key positive differences bitcoin from the usual money that you see in your Internet bank.
Bitcoin is the best payment system? Of course not! With such a low transaction processing speed, this can not be.
Really?Is it still slow?I thinks it's now at far better speed with segwit activation.I f big giants like Amazon once accepts bitcoin payments,it would come into main stream of payment. 
The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).
I can say bitcoin is a good way and easy to send across boarder but not the best payment system because transaction fee is high.
No doubt, bitcoins are innovative and have solved a number of problems found with the current payment systems. But one thing still needs improvement and that it the transfers need to be instant.
Yes i do believe that bitcoin will be a better payment system. Bitcoin offers us with many advantages over traditional banks because it allows us to send and receive payments all across the globe, without us having to worry about conversion rates. Merchants do not have to pay any processing fees to carry out transactions. Another highly beneficial aspect of using bitcoin is the fact that large payments can be made with ease and without any monetary caps on the size of the payment. Although bitcoin is still in its nascent stages and is volatile in its pricing, it still has a potential to improve and become better.
Well for now Bitcoin is not yet a bettee payment system because not all stores or malls are acceptng bitcoin as payment for what you purchase the reason why paying in bitcoin is really hard and you need it convert it first in fiat in order for you to be able to pay.However if most of the establishments will accept bitcoin as payment it would be better.
For me yes, but not now. Maybe in the future if majority of country will legalize bitcoin and so more people will invest and use it as their primary money over paper money.
The advantages of bitcoin relative to legal currency are more directly reflected in the payment technology level. As with the credit expansion level, the payment technology of the legal tender system can be adopted, while many of the technologies paid by bitcoin are not realized by fiat money.
For me yes, because Bitcoin is the first electronic currency, if we can purchase through the online system and we càn pay of our education. Bitcoin can also use as to purchase through our debit cards or ATM to used them.
Bitcoin performs all functions for money transfers via the Internet. It became the first payment system.On the basis of this system began to arise and other payment systems.At the same time, bitcoin has become the first electronic currency. With it, you can make purchases to pay for education or make money transfers.Bitcoin payment system has an ambiguous relation to itself. This is due to the fact that bitcoin is not stored in the Bank develops spontaneously, this currency does not belong to any particular state and does not have material assets.At the same time, this payment system allows you to keep the Confederacy and reliability.
Bitcoin is a better payment system in few things while not so good in few. E.g., if you want to send large amounts of money to someone than it wouldn't cost more than few dollars to transfer that amount while with the banks it would take high fees and charges. And in the contrary bitcoin is currently not that good to handle large amounts of transactions, although development is being done to fix that.
First of all, that various and each payment system in some countries or one country maybe different. There are a lot of payment system in the world. And I think, in my opinion, we cannot compare them at our will. For example like dollar and btc, those two are completely two different things so you actually cannot compare those two. You have to know that everything as a good side and a bad side, including btc and dollar, and any other payment system, and any other currency in the world. Btc is indeed the revolution of money transfer and the new innovation of money transaction. But there is always a positive side and negative side in this world.
It is not popular with most countries. But now it may be best to transfer money fast
I believe Bitcoin is the best as a payment system for now.
Bitcoin is a better payment system in few things while not so good in few. E.g., if you want to send large amounts of money to someone than it wouldn't cost more than few dollars to transfer that amount while with the banks it would take high fees and charges. And in the contrary bitcoin is currently not that good to handle large amounts of transactions, although development is being done to fix that.
Bitcoin still needs a lot of improvement on its system, although it is very cheap to transact Bitcoin today, it is still possible that the network will experience congestion on unconfirmed transactions, so a solution is still needed, I'm referring to lightning and schnorr signature, if those two will be successfully implemented I think it will make Bitcoin a better payment system than traditional payment system. But there are still some disadvantage like, transactions are not reversible, meaning if you accidentally deal with a scammer you won't be able to get a refund. But I think Bitcoin and other cryptocurrency is already a best payment system that can transact money around the world, faster and cheaper than bank transfers.
Yes, Bitcoin is a better payment system. I think that I prefer Bitcoin to pay or transfer money compared to banks. Of course, bitcoin is not perfect, and transactions take a long time and high transactions. The fees are all Bitcoin should perfect
well, even though we say that it is a very promising payment system, but, for the country it could harm them. well we know that bitcoin transcation is not in taxes, and moreover the bitcoin system is always preached as money laundering.Why do you think that bitcoin transactions must be taxed? It's closed ecosystem. They can tax returns when you out to fiat, but taxes for BTC transactions is like to pay taxes for transactions with nominal money in computer games.
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